Genesis Capital has acquired a majority stake in the Slevomat Group, which operates the travel and experience portals Slevomat.cz and Zlavomat.sk. The remaining stake was divided between the current management of Slevomat and entrepreneur Jitka Cechlová Komárková, the Slevomat Group announced today in a press release. The parties have decided not to disclose the amount of the transaction. Slevomat has been part of the British company Secret Escapes since 2017, but is now returning to Czech ownership, said Tomáš Braverman, director and one of the new minority owners of the Slevomat Group.
Transfer to new owners
Slevomat did not disclose the exact size of the individual shares. The majority stake in Slevomat was acquired by Genesis Capital through its private equity fund Genesis Private Equity Fund V. In addition to Braverman, other minority shareholders in the Slevomat group include Jakub Mazal, director of revenue; MatÄ›j Dvorský, director of marketing; Romana Trusinová, director of product; Petr Hýža, director of finance; Jaroslav HanslÃk, director of technology; and Lucia PavlÃková, director of human resources. The transaction still has to be approved by the antitrust authority.
“Slevomat Group is a strong and well-managed company with a leading position in the Czech and Slovak markets. It has been growing steadily and has proven that it can maintain its position even in a highly competitive online environment. We see great potential to further develop its strong brand, strengthen customer satisfaction and loyalty, and enhance its technological capabilities,” said Tomáš Sýkora, Investment Director at Genesis Capital Equity. “We look forward to working with the current management team to further develop the company, strengthen its market position, and seek new opportunities for growth,” he added.
Slevomat’s development and market position
According to Braverman, negotiations on the transfer to new owners took approximately one year. “Even during our first meeting with colleagues from Genesis, I felt that we were very much on the same wavelength. We share the same values—respect, cooperation, and hard work. I am very much looking forward to the coming years, when we will work hand in hand and take advantage of the many opportunities we have for further growth,” he added.
The Slevomat group’s turnover rose by 12 percent year-on-year last year to almost five billion crowns. Of this, Slevomat.cz reported a turnover of 3.8 billion crowns, also up 12 percent year-on-year. Travel accounts for about 70 percent of the Slevomat group’s turnover.
Slevomat was founded in 2010. One of its founders is entrepreneur Tomáš ÄŒupr, who is also behind the online supermarket RohlÃk and the delivery service Dáme jÃdlo, now foodora. Genesis Capital was founded in 1999 by Jan Tauber, and the company has supported more than 90 companies to date. Its portfolio includes companies such as GTH catering, 11 Entertainment Group, Hecht Motors, AV Media, Nay-Datart, and Knihobot.
Source: ÄŒTK
